Symmetry Investments LP Purchases 21,400 Shares of Caterpillar Inc. (NYSE:CAT)

Symmetry Investments LP grew its position in Caterpillar Inc. (NYSE:CAT) by 310.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,300 shares of the industrial products company’s stock after acquiring an additional 21,400 shares during the quarter. Caterpillar accounts for 1.1% of Symmetry Investments LP’s portfolio, making the stock its 22nd biggest holding. Symmetry Investments LP’s holdings in Caterpillar were worth $9,427,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Caterpillar by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 48,353,370 shares of the industrial products company’s stock valued at $14,296,641,000 after purchasing an additional 129,216 shares in the last quarter. Capital World Investors raised its position in shares of Caterpillar by 0.3% during the 4th quarter. Capital World Investors now owns 29,029,953 shares of the industrial products company’s stock valued at $8,583,372,000 after buying an additional 96,479 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Caterpillar by 2.2% in the 4th quarter. Fisher Asset Management LLC now owns 8,139,040 shares of the industrial products company’s stock valued at $2,406,471,000 after acquiring an additional 173,108 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Caterpillar by 5.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock worth $1,022,488,000 after acquiring an additional 165,358 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in Caterpillar by 6.3% during the first quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock worth $740,225,000 after acquiring an additional 119,326 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on CAT shares. StockNews.com upgraded Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, September 13th. UBS Group boosted their price objective on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Evercore ISI dropped their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Barclays increased their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Finally, Bank of America cut their target price on Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Caterpillar has an average rating of “Hold” and a consensus price target of $336.31.

Insider Buying and Selling at Caterpillar

In related news, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total transaction of $527,800.00. Following the completion of the sale, the insider now directly owns 18,515 shares in the company, valued at approximately $6,480,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the transaction, the insider now directly owns 15,615 shares of the company’s stock, valued at $5,347,825.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total value of $527,800.00. Following the transaction, the insider now owns 18,515 shares in the company, valued at $6,480,250. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,668 shares of company stock valued at $2,665,760. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Stock Down 1.2 %

NYSE:CAT opened at $368.85 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. The firm has a market cap of $180.39 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 1.56 and a beta of 1.10. The company has a 50-day moving average of $343.68 and a 200 day moving average of $344.75. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $382.01.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. The firm had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the firm earned $5.55 earnings per share. As a group, research analysts anticipate that Caterpillar Inc. will post 21.88 EPS for the current fiscal year.

Caterpillar declared that its Board of Directors has approved a stock buyback plan on Wednesday, June 12th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 12.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.